Well, if you are a regular smoker, be cautious because the prices of cigarettes have now increased by 10-20%. This means that you might have to shell out Rs 10-30 extra for a pack of cigarettes.
With the major competitor in the tobacco market increasing its prices, other companies too seem to have increased their prices.
However, vendors have said that the old stock that will be sold as per the old rates and once they clear the old stock, the new ones will be sold as per the revised rates.
Earlier, ITC Ltd has announced that it has initiated a steep 10-20% hike in the prices of selected cigarette brands following the increase in the National Calamity Contingency Duty (NCCD) proposed in the Union Budget 2020.
After the announcement of NCCD in the Budget, it was anticipated that this would lead to an increase in tax rates on cigarettes. While it was predicted that the prices would be hiked soon, ITC sources confirmed that the prices of number of brands have been revised, reported BusinessLine.
ITC sources also said that the price hike will come into immediate effect.
How much will your cigarette cost you now?
The price hikes have been higher than expected. So if you smoke these brands of cigarettes, you might have to shell out Rs 10-30 more. However, the prices depend on the stick sizes.
A pack of 10 Goldflake Superstar cigarettes has now been increased to Rs 59 from Rs 49 and Flake Special Filter to Rs 60 from Rs 50.
Brands like Navy Cut filter has been hiked by 16% to Rs 80 from Rs 69 while Flake Filter has seen a 14% to Rs 80 from Rs 70.
Well, if you smoke Classic milds you will now have to shell out Rs 330 for a pack of 20 and Rs 180 for a pack of ten.
Other brands that has initiated a price hike include Flake Blue Special Filter, Wave Cool Mint, and Duke Special Filter to name a few.
So if you are planning to quit smoking, this might be the right time to do so given the price of cigarettes are now quite high.
